Plumas Bancorp (NASDAQ:PLBC) Research Coverage Started at Piper Sandler

Piper Sandler initiated coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a research note released on Thursday, MarketBeat reports. The brokerage issued an overweight rating and a $60.00 price target on the financial services provider’s stock.

PLBC has been the subject of several other reports. Raymond James reaffirmed an “outperform” rating and issued a $54.00 target price (up from $49.00) on shares of Plumas Bancorp in a report on Thursday, January 30th. Stephens began coverage on shares of Plumas Bancorp in a report on Wednesday, November 27th. They issued an “overweight” rating and a $60.00 target price for the company.

Plumas Bancorp Price Performance

Shares of NASDAQ PLBC opened at $45.96 on Thursday. Plumas Bancorp has a 1 year low of $32.50 and a 1 year high of $51.33. The stock has a market cap of $271.03 million, a P/E ratio of 9.60 and a beta of 0.70. The firm has a 50-day moving average of $45.94 and a 200 day moving average of $44.07.

Plumas Bancorp (NASDAQ:PLBC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.14. Plumas Bancorp had a net margin of 30.74% and a return on equity of 16.88%. Research analysts expect that Plumas Bancorp will post 4.51 earnings per share for the current fiscal year.

Plumas Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 17th. Stockholders of record on Monday, February 3rd were paid a $0.30 dividend. The ex-dividend date was Monday, February 3rd. This is a positive change from Plumas Bancorp’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. Plumas Bancorp’s payout ratio is currently 25.05%.

Insider Transactions at Plumas Bancorp

In related news, Director Michael Kevin Foster purchased 1,000 shares of Plumas Bancorp stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $45.67 per share, for a total transaction of $45,670.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $45,670. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 9.00% of the company’s stock.

Institutional Trading of Plumas Bancorp

Large investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management bought a new stake in shares of Plumas Bancorp in the fourth quarter worth approximately $32,000. Tower Research Capital LLC TRC grew its stake in shares of Plumas Bancorp by 447.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,106 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 904 shares during the period. SG Americas Securities LLC bought a new stake in shares of Plumas Bancorp in the fourth quarter worth approximately $105,000. Wells Fargo & Company MN grew its position in Plumas Bancorp by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 3,221 shares of the financial services provider’s stock valued at $152,000 after buying an additional 703 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Plumas Bancorp during the fourth quarter valued at approximately $222,000. 41.68% of the stock is currently owned by institutional investors.

Plumas Bancorp Company Profile

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.